Author: lbostgadmin
Sri Lanka shares down 0.7-pct
Mar 26, 2015 (LBO) – Sri Lanka’s shares were down Thursday for the fourth consecutive day with the benchmark index not recovering following yesterday’s dip below the 7,000 mark, brokers said. The Colombo benchmark All Share Price Index closed 50.20 points lower at 6,922.83, down 0.72 percent. The S&P SL20 closed 30.49 points lower at […]
Sri Lanka’s government urge private sector wage increase: Plans not to legislate
Mar 26, 2015 (LBO) – Sri Lanka’s new rulers urged the private sector to come up with a solution to increase wages and says the government would not like to force it to be legislated, Deputy Minister of Finance and Planning Harsha De Silva said.“We are in a really dilemma right now having delivered 100 […]
Sri Lanka’s Abans use new digital marketing application to promote LG smart phone
Mar 26, 2015 (LBO) – Sri Lanka’s Abans Limited, which has interests in consumer durables said they will market their LG smart phone using mobiOs MMM platform.Issuing a statement the company said, while traditional marketing is outside the store targeting consumers to build brand awareness, digital marketing allows marketers to deliver personalized content to shoppers […]
Sri Lanka sells Rs39.3bn in 4 and 8 year bonds
Mar 26, 2015 (LBO) – Sri Lanka has sold 39.3 billion rupees of four and eight year bonds after calling bids for 30 billion rupees of bonds, the state debt office said.The debt office sold 19.24 billion rupees of four year bonds maturing on 15 September 2019 at weighted average yield of 8.92 percent. A […]
Sri Lanka’s Softlogic Finance rights oversubscription caters to private sector credit demand
Mar 26, 2015 (LBO)-Sri Lanka’s Softlogic Finance PLC’s said its rights issue which was over-subscribed by over 150 per cent with the new equity infusion of 401 million rupees, came at an opportune time with demand for credit by the private sector showing notable increases on the back of reduction of interest rates to multi-year […]
Sri Lanka gets US$400mn currency swap from Reserve Bank of India
Mar 26, 2015 (LBO) – Sri Lanka’s Central Bank yesterday signed a 400 million US dollar currency swap agreement with the Reserve Bank of India (RBI), where it would allow the Central Bank to draw funds in US dollar or Euro in multiple tranches, the RBI said in a media release. The agreement is valid […]
Sri Lanka venture engine call for fresh business proposals
Mar 26, 2015 (LBO) – Sri Lankan venture engine angel investor group in partnership Blue Ocean Ventures and the Indian Angel Network (IAN) called for fresh business proposals from start-ups who are looking for funding and mentoring support, a statement said.The company said, 15 new companies have been funded by the programme to the value […]
Sri Lanka hold talks with EU on GSP+ trade concessions
Mar 26, 2015 (LBO) – Sri Lanka are holding discussions on the retrieval of GSP Plus, a system granting tax free entry for the counties goods to the European Union market, the industry and commerce ministry said in a statement. The industry and commerce ministry said earlier this week in Colombo that the talks were […]
Sri Lanka sells Rs39.3bn in 4 and 8 year bonds
Mar 26, 2015 (LBO) – Sri Lanka has sold 39.3 billion rupees of four and eight year bonds after calling bids for 30 billion rupees of bonds, the state debt office said. The debt office sold 19.24 billion rupees of four year bonds maturing on 15 September 2019 at weighted average yield of 8.92 percent. […]
Sri Lanka former President given 213 body guards and 21 vehicles: Cabinet Spokesmen
Mar 25, 2015 (LBO) – Sri Lanka’s former president Mahinda Rajapakse has been given 213 body guards from the army and the police for security purposes plus 21 vehicles, government spokesman Rajitha Senaratne said at a press briefing held in Colombo, recently.He said this while replying to claims made by Rajapakse’s campaigners that he was […]
Sri Lanka to produce indigenous natural gas and stop importing fossil fuel: Official
Mar 24, 2015 (LBO) – Sri Lanka’s new government targets 100 percent clean indigenous energy to develop the island as a green country while importing fossil fuel, an official from the Ministry of Power and Energy said.“We want to develop the country but it has to be more green and environment friendly development,” Suren Batagoda, […]
Sri Lanka’s Fitch withdraws rating on John Keells Holdings
Mar 25, 2015 (LBO) – Sri Lanka’s Fitch Ratings has withdrawn the rating on diversified conglomerate John Keells Holdings (JKH), the rating agency said in a statement. Prior to the withdrawal, JKH’s National Long-Term Rating was at ‘AA+(lka)’ with Stable Outlook. The rating has been withdrawn because there will be insufficient information to maintain the […]